It was no surprise that the Financial Stability Oversight Council (FSOC) decided last week to cite a number of nonbank firms as systemically significant, placing them in line for greater regulatory scrutiny by the Federal Reserve. What was a surprise is that — in the midst of a huge outcry in Congress about banks that are too big to fail (TBTF) — neither Congress nor the administration asked the FSOC to stop the designation process until the too-big-to-fail issue had been fully thought through. After all, by designating some nonbanks firms as TBTF — GE Capital, AIG, and Prudential Insurance are in the group — the FSOC has created a whole new set of institutions that will now be considered TBTF. [via The American]

4% across the board income tax surcharge for all taxpayers regardless of income bracket

4% across the board reduction in real spending (not projected increases in funding) for year one

In each subsequent year, total real spending has to decrease an additional 4% (it doesn’t have to be 4% across the board though)

At the end of 4 years, the income tax surcharge expires automatically

If in any year, total real spending doesn’t decrease 4%, the Income Tax surcharge is suspended

If in any year, total real spending doesn’t decrease by 4% the permanent base pay of members of congress, congressional political staffers, POTUS, VPOTUS, and executive branch political staffers decreases by 4%

Its better then the cliff. Also a “4 year” plan sounds like a “5 year” plan so the lefties should like that. I think Instapundit’s ideas should be included as well.

CA into 3 (maybe 4…Los Angles as a city-state)
TX into 2 (maybe 3)
FL into 2
IL into 2 (IL and Chicago as a city-state)
NY into 3 (maybe 4, NYC as a city-state, Long Island, West York, Buffalo)
PA into 2 (West and East)
Form Superior from Upper MI/Northern WI

– Defund the Lemonade stand police. Reduce aid to municipalities who go after kids Lemonade stands by the fund equivalent to 2 Police officers, 1 police supervisors, 1 alderman, 1 mayor, and 1 city attorney. This won’t create jobs but it will send a good anti-statist message. It will also make me feel better.

– Hands-off Gibson Guitars. Reduce the budget of those parts of USGOV going against it.

– Freeze regulations. No more regulations for 48 months.

– Publish the real debt numbers

– Freeze non-defense hiring for 24 months

– Raise small claims court limits

– Cheap plentiful / multi-source energy

– Instant green cards with fast track citizenship path for STEM-related Phd for foreign students graduating from US Universities.

– “Double the exemption numbers for small businesses: that is, whatever regulations you are exempt from by dint of having 10 or fewer employees, you will now be exempt if you have 20 or fewer; similarly for larger numbers. The regulations will still apply, but the exemption numbers are doubled.” [Jerry Pournelle ?]

I am a US Citizen living in Milwaukee WI. I have interests in IT, information security, CyberWar, national security, fifth generation warfare (5GW), history, public policy, entrepreneurship, economics, pop culture and the future.